Medical Diagnosis Planning

When you choose to work with us, you gain a trusted partner with extensive experience in both end of life and medical diagnosis planning. At Frisch Financial Group, we genuinely care about our clients and take a holistic approach to financial planning. This means that we learn about your life as a whole, allowing us to understand what matters most to you. End of life or medical diagnosis planning isn’t one-size-fits-all. It can be overwhelming. Different people may have different reactions to the process – even within the same family. Our compassionate advisors help you through at a pace that is right for you. We take the time to listen to you, answer all of your questions, and ensure you feel confident and reassured that you are being heard. While not all financial advisors are fiduciaries, Frisch Financial Group is. We are legally obliged to act in your best interest and you can count on us to guide you through making the right decisions for you and your family. 

Creating a financial plan reduces uncertainty and lessens the burden on your family and loved ones. The process includes not just outlining your wishes in legal documents but also allows you to express your medical care preferences, encompasses both investment and tax strategies, provides planning regarding how your bills will be paid, takes into consideration your charitable giving, offers financial education as needed and covers so many more areas which ultimately provide peace of mind to you and your loved ones. 

When you work with a financial advisor who takes a holistic planning approach, you can be certain that your family and loved ones will receive continued support as they navigate this period of transition. At Frisch Financial Group, we take the time to understand your family dynamics and what matters most to you. This allows us to offer personalized guidance and create a customized end-of-life or medical diagnosis plan tailored to your needs.

There’s no one-size-fits-all answer for when to begin end-of-life planning. Life is unpredictable, so starting early can give you and your family members time to act and peace of mind, knowing you’re prepared. We often see planning start with a new medical diagnosis. There are many important steps you should take to organize your financial life.

Your family dynamics, financial resources, and personal values all influence end of life planning. No two people have the same exact circumstances, and your plan will be customized to your needs. An end of life or medical diagnosis plan may include:

• Estate planning to make sure your legal documents are comprehensive and up to date. 
• Health care planning to prepare for new costs and potential long term care needs. 
• Reviewing your investments and tax planning strategies. Your investment and tax strategies are carefully coordinated to include multiple years so that they work together effectively. Proactive, intentional decision-making helps you stay in control and achieve better financial outcomes for your family.
• An insurance review to determine if your health and life insurance policies have adequate coverage levels and that your designated beneficiaries are current. 
• Philanthropic planning. You may choose to set up charitable donations, trusts, or foundations so that works which are important to you can carry on in your name. 
• Financial planning for retirement or business succession. A financial advisor who is an expert in end of life and medical diagnosis planning can incorporate strategies to make the most of your resources and help prepare your family for this transition. 
• Planning for how your bills will be paid. 
• Funeral and burial arrangements. Cultural or religious traditions may impact the type of arrangements that you choose, but it is important that you take some time to consider what you want so that your family and loved ones can be assured that your final wishes are properly honored. There are a multitude of options available from traditional funeral and burial services to a memorial service or a celebration of life. 

A key part of end of life planning or medical diagnosis planning is equipping your loved ones with the knowledge and resources they will need to navigate the future. Whether it’s educating your spouse or children on managing finances, you can take comfort in knowing that we are a trusted partner in ensuring your family and loved ones have the tools and support they need.   

We help people in every season of life. For some, that means that a life-altering medical diagnosis has created an urgent need for planning. For others, they may find themselves in their golden years with an outdated estate plan, or none at all. We recommend that no matter what your personal circumstances are, you reach out to us so that we can discuss how we may help you.